Bisignano joined Fiserv in 2019 through the acquisition of First Data, where he was Chairman and Chief Executive Officer. Amid a tougher macroeconomic environment last year, Bisignano said the company is maniacally focused on expense management. US Treasury to Lead Working Group Looking at Digital Dollar, Worldpay and FIS: the original sin that tore up a $43bn merger, 2023 Economic Insight & Best Practices in Financial Risk Management, Instant Bank Payments: The Promise of a Faster Future. I think its about investment strategy in our business, he said. Bisignanos annual compensation target had previously been between $10 million and $15 million, according to the 2022 proxy filing. Relationship of Reporting Person(s) to Issuer . The company, like others in payments, is grappling with inflation and currency volatility, and those stressors are squeezing Fiservs profit margins. "[3] In 2004 the publication Treasury and Risk named him one of the "100 most influential people in finance. Fiserv, a Payments and financial services giant, has named Frank Bisignano as its new chief executive officer (CEO) in an official announcement on Thursday. BROOKFIELD, Wis. -- (BUSINESS WIRE)--Dec. 21, 2022-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced that it has entered into a new employment agreement with Frank Bisignano to serve as President and Chief Executive Officer through December 2027. 01:36. He was previously Executive Vice President, Group General Counsel for Willis Group Holdings, responsible for legal, corporate secretary, compliance, and audit and risk management. The company has maintained that it has about 44,000 employees around the world. , The free newsletter covering the top industry headlines, Payoneer Survey Shows that UK-based and European Businesses Find Cross-Border Payments Challen, By signing up to receive our newsletter, you agree to our. 03:44. In addition to industry-leading data governance practices, such as our binding corporate rules, we have formalized our data governance to protect client data and safeguard our information systems. With the Fiserv-First Data merger announcement, company executives planned to invest in facilities and staff, aiming for a colocation strategy and a hybrid workforce, Bisignano said. [1] Starting in 1994, he held a number of executive positions at Citigroup,[2] with American Banker writing that "he got his payments industry bona fides at Citi by running its massive global transaction services unit. Moving forward, we plan to pursue LEED certification (or comparable certifications) for all of our newly occupied and/or renovated office locations, including our new office in New York and new Innovation Center in New Jersey. Even as the payments and fintech company cut employees this year, its hired thousands of workers,Fiserv CEO Frank Bisignano said during a Friday interview. Let Payments Dive's free newsletter keep you informed, straight from your inbox. britt.zarling@fiserv.com Investor Relations: Omnichannel commerce, billing and payments solutions for large merchants and corporates, All-in-one systems for merchants to accept payments and manage their business, Platforms and integrated digital banking solutions to drive customer relationships and growth, Platforms and integrated digital solutions to better serve members, Digital banking, payments and solutions at scale for largest institutions, Financial and payments solutions and connectivity that enable technology providers to quickly reach consumers and new markets, Payments and financial solutions for government, education and utilities, Corporate information, values and history, Financial information and shareholder services, Our commitment to governance, social responsibility, the environment and giving back, Our commitment to a positive workplace for all associates, Details around our annual client conference, Don't have a Fiserv.com profile? Among a number of non-profit commitments, he serves on the boards of the National September 11 Memorial and Museum, the Mount Sinai Health System, and The Battery Conservancy; and is a member of Business Roundtable, a U.S.-based association of CEOs who use public policy to promote a thriving economy and expanded opportunities for Americans. [18], Bisignano is consistently rated as one of the highest-paid CEOs in the United States. Our breadth and scale across the fintech and payments landscape and millions of consumers provides unparalleled data and insights, which differentiate the experience we can provide. Get the free daily newsletter read by industry experts, The e-commerce juggernaut said its offeringa new digital wallet service toits sellersand planning to roll it out more broadly over the next few months.. Horvath is a graduate of the University of California, San Diego, and earned a masters degree in business administration from the Thunderbird School of Global Management. He has lectured extensively as an Adjunct Professor of Law at Georgetown University Law Center. Still, others have noted Fiservs margin expectation for 2022 may prove difficult to achieve. He also led its $2.6 billion initial public offering in 2015, the largest U.S. IPO of the year. (RTTNews) - Fiserv, Inc. (FISV), a payments and financial services technology provider, said on Thursday that it has elected its CEO Frank Bisignano as the new Chairman to succeed Denis O'Leary . Still, thousands "certainly seems a lot higher than what we would expect," he said in an email. As Chief Marketing Officer for Fiserv, Inc., Leigh Asher leads brand strategy, corporate communications and creative direction worldwide, as well as oversees market research and marketing technology and operations. Some analysts who follow the company have predicted Fiserv executives will cut costs if needed to achieve earnings-per-share growth. Brookfield, Wisconsin-based Fiserv offers payments, financial technology and merchant services. [21], Bisignano is a long-time supporter of the Republican Party, and Donald Trump in particular. US Treasury to Lead Working Group Looking at Digital Dollar, Worldpay and FIS: the original sin that tore up a $43bn merger, 2023 Economic Insight & Best Practices in Financial Risk Management, Instant Bank Payments: The Promise of a Faster Future. In this role, Gibbons is responsible for leading the business across the EMEA region, where Fiserv has operations in 13 countries and provides issuing, payments software, merchant acquiring and processing services to financial institutions, Fintechs, enterprise and small- and medium-sized businesses. Previously, his base salary was $1.32 million, according to the companys 2022 proxy filing. Continue reading. Payments giant Fiserv has signed a new five-year employment contract with CEO Frank Bisignano that gives him a 6% salary boost. He serves on the boards of the Minority Corporate Counsel Association and New York's Hale House Center, and is a member of the Executive Leadership Council. Visit fiserv.com and follow on social media for more information and the latest company news. Let Payments Dive's free newsletter keep you informed, straight from your inbox. The company serves clients in more than 100 countries, and in 2021 was recognized among . He became Chairman of the Board in May of 2022. When asked Monday how Fiserv would adapt to an economic downturn, CEO Frank Bisignanosaid the company knows what levers to pull to manage the expense line., Fiserv CEO Frank Bisignano said this week the payments processing giant is equipped to manage tough times.. Foskett chairs the Board of Directors for Allied Irish Bank Merchant Services. View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005599/en/, Media Relations: Our people platform, including diversity and inclusion, and the health and safety of our people, clients and communities, has remained at the top of our CSR and ESG agenda. "[4], Hired as CAO of JPMorgan Chase in 2005, CEO Jamie Dimon "trusted him with integrating the banks purchases of a foundering Bear Stearns Cos. and bankrupt Washington Mutual Inc. during the crisis. Register now. Britt ZarlingCorporate Communications , The free newsletter covering the top industry headlines, Payoneer Survey Shows that UK-based and European Businesses Find Cross-Border Payments Challen, By signing up to receive our newsletter, you agree to our, Ilya S. Savenok / Stringer via Getty Images. The same notice requirement applies when Fiserv establishes a new severance policy that affects such severance cash benefits. Frank Bisigjnano is single handedly ruining Fiserv. Bisignano has been Fiservs CEO since July 2020, succeeding previous CEO Jeff Yabuki. Ivo Distelbrink is Head of Asia Pacific at Fiserv, Inc. He was appointed Chief Executive Officer of Fiserv in July of 2020 and Chairman of the Board in May of 2022. Gibbons joined the company in December 2018 from Deutsche Bank, where he led Global Transaction Banking. Fiserv is a leading provider in these primary businesses and markets in EMEA, including the U.K., Ireland, Germany, Netherlands, Poland and the Middle East region. Keep up with the story. The contract, which took effect Dec. 21, 2022, increases Bisignanos annual salary to $1.4 million, according to a filing with the Securities and Exchange Commission. But even as Fiserv made cuts,the company hired thousands of workers last year, Bisignano told Payments Dive during a recent interview. Our approach to Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) at Fiserv reflects our global presence, and is embedded in how we innovate, operate and deliver products and services to our clients every day. [1] Following Fiserv's acquisition of First Data in 2019, Bisignano formally assumed the role of Fiserv CEO in July 2020. The new contract also includes a variety of governance enhancements to more closely align with market standards. Fiserv hired thousandsof employees globally this year, even as others were cut from the payments technology company because they were unwilling to relocate, the company's CEO said in an interview with Payments Dive. In this role, he brings more than 25 years of global banking and financial technology experience to Fiserv and is responsible for the growth of the company in the Asia Pacific region. Bisignano will also continue to serve as Chairman of the Board. Previously, he was the Chief Information Officer (CIO) at JPMorgan Chase & Co., where he led global technology across all lines of business in more than 60 countries. We did not let people go this year, other than we hired thousands of people in new locations, and other people didnt move, Frank Bisignano said Friday. We know our levers and how to manage the expense line, and weve managed it through this whole merger in order tobe prepared for tough times, too, Bisignano said. When asked how Fiserv would adapt in the event of an economic downturn, Bisignano, speaking Monday at Citi's 2022 FinTech Conference in New York, touted the "resilience and durability" of the company's business. Chairman, President, & Chief Executive Officer at Fiserv . Asher is a graduate of Georgia State University and a member of the American Marketing Association, the International Association of Business Communicators and Marketing 50. Amid a tougher macroeconomic environment last year, resembling a prior shareholder proposal that had won shareholder approval earlier last year. Looking ahead, we are well-positioned to help our clients accelerate their business strategies and drive outcomes, and we are committed to earning their trust every day. He is the driving force behind the companys Military and Veterans Affairs function which focuses on the employment of military members, their spouses and veterans who have sacrificed much to serve their country. Fiserv is a member of the S&P 500 Index, the FORTUNE 500, and has been recognized as one of FORTUNE World's Most Admired Companies for 11 of the past 14 years and named among the Worlds Most Innovative Companies by Fast Company for two consecutive years. With our robust platform of solutions, leading technology, and the best talent, Fiserv will continue to deliver for our shareholders, clients and associates in a dynamic market.". Sebby held several additional risk management positions during her tenure with First Data, with a significant focus on integrating regional practices into global programs. He previously served as the CEO of First Data Corporation and the COO of JPMorgan Chase. Previously, his base salary was $1.32 million, according to the companys. We continued to use our Fiserv Cares Fund to assist associates who have experienced unexpected financial hardship during the pandemic, and we continued to prioritize professional development for our people, with programming centered on inclusive leadership and the development of diverse . Want to share a company announcement with your peers? Payments giant Fiserv Inc <FISV.O> said Thursday that Frank Bisignano would become the company's chief executive on July 1, with long-time head Jeffery Yabuki remaining on as executive chairman . Over the course of his career, Wilcox has developed significant expertise with bank and insurance regulatory matters, corporate real estate, intellectual property, procurement, litigation, and mergers and acquisitions. Prior to that, he was Senior Vice President, Enterprise Shared Services Counsel at USAA. Among a number of non-profit commitments, he serves on the boards of the National September 11 Memorial and Museum, the Mount Sinai Health System, and The Battery Conservancy; and is a member of Business Roundtable, a U.S.-based association of CEOs who use public policy to promote a thriving economy and expanded opportunities for Americans. We said when we were doing that, that we would be a different company, Bisignano said. Phil Murphy and Fiserv CEO Frank Bisignano will hold a ceremony Thursday morning in Berkeley Heights, welcoming the company and approximately 2,000 new high-paying, high-tech jobs to the state. Our supplier diversity processes have been enhanced. Wilcox joined Fiserv in September 2020 as Chief of Staff for the Office of the CEO, gaining a deep understanding of day-to-day operations across the organization and working closely with the Fiserv leadership team on a wide range of operational effectiveness initiatives.